Tosyalı is investing about USD 3.5 billion in mills and power plants as it expands in Algeria.

Bloomberg reported that Tosyali Holding AS, a Turkish steelmaker, is investing about USD 3.5 billion in mills and power plants as it expands in Algeria and adds a specialized steel plant with Toyo Kohan Company for food packaging in Turkey.

Mr Fuat Tosyali chairman of Tosyali Holding said that “The company is investing USD 1.3 billion to expand capacity at an ore to steel plant in Algeria. The steelmaker also plans USD 1.7 billion, 1,300 MW power plant that will burn imported coal in Iskenderun, on the eastern Mediterranean coast of Turkey and where Tosyali is based.”

Mr Tosyali said that “The company’s joint venture with Toyo Kohan is investing USD 425 million in the packaging steel plant in Osmaniye, in the south of the country. We want to grow in Turkey but also benefit from the growth of other countries. Most of those investments are planned for 2015.”

He said that “Acquisitions at home and abroad are also on our agenda, but not that urgently. The company doesn’t plan any initial public offering of the holding or its units in the short or medium term.”

Source – Bloomberg

Turkish steel sector  January-July of 2014

Turkish steel sector  export during the period of January-July of 2014 is 8.07 billion dollars in value and 10.6 million tons in amount basis.

When you compare with last year,%5,1 decrease in value and %6,7 decrease in terms of value (tons).

Turkey’s exports to Iraq declined by 30 percent in July and this will effect the yearly export target.